DCIT, CIR-7(1), KOLKATA, KOLKATA vs. M/S. GANESH REALTY & MALL DEVELOPMENT PVT. LTD., KOLKATA

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.581/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13)

68 of the I.T. Act. 5. Assessment order has been passed by Addl. CIT, Range-7. Assessee filed appeal against the assessment order and thereafter filed a writ petition in the Calcutta High Court for early hearing of appeal. Hon’ble Calcutta High Court passed the order dated 17.09.2015 directing the department for disposal of appeal in a given time

K.A.WIRES LTD.,KOLKATA vs. I.T.O.,WARD-8(3), KOLKATA

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2012-13 K.A. Wires Ltd...………………………………………………………..................................……………..….......Appellant Chatterjee Intl Centre 11Th Floor Room No. 11 33A, Chowringhee Road Kolkata – 700 071 [Pan : Aadck 7401 M] Vs. Income Tax Officer, Ward – 8(3), Kolkata…..…................................................….…….....…..Respondent Appearances By: Shri S.M. Surana, Adovate & Shri N.P. Jain, Advocate, Appeared On Behalf Of The Assessee. Shri A.K. Nayak, Cit D/R & Shri Dhrubajyoti Ray, Jcit D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : December 4Th, 2019 Date Of Pronouncing The Order : January 22Nd, 2020 Order Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Assessee Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals) – 3, Kolkata, (Hereinafter The “Ld.Cit(A)”), Passed U/S. 250 Of The Income Tax Act, 1961 (The ‘Act’), Dt. 23/04/2019, For The Assessment Year 2012-13. 2. The Assessee Is A Company & Is Engaged In The Business Of Zinc Manufacturing. It Filed Its Return Of Income Electronically For The Assessment Year 2012-13 On 07/09/2012 Declaring A Loss Of Rs.(-)Rs.37,99,257/-. The Assessing Officer Completed The Assessment U/S 143(3) Of The Act On 30/03/2015 Determining The Total Income Of The Assessee At Rs.1,02,00,743/- Interalia Making An Addition U/S 68 Of The Act Being Share Capital & Share Premium Received By The Company From Three (3) Associate Companies. Out Of This Rs,1,40,00,000/- Addition, The Assessing Officer States That A Protective Addition Of Rs.40,00,000/- Is Made In The Hands Of The Intermediary Companies. Aggrieved The Assessee Carried The Matter In Appeal Without Success. The Ld. First Appellate Authority, Upheld The Order Of The Assessing Officer. 3. Further Aggrieved, The Assessee Is Before Us.

68 of the Act, the Bench has been consistently remanding , the Bench has been consistently remanding such matters back to the file of the Assessing Officer for fresh adjudication, in accordance back to the file of the Assessing Officer for fresh adjudication, in accordance back to the file of the Assessing Officer for fresh adjudication, in accordance with

EXIMCORP INDIA (P) LTD. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

68,246/-debited in the P/L account of the appellant, by wrongfully invoking Section 40(a)(i) of the Income Tax Act, 1961 ("the Act"). 2. FOR THAT, the CIT(A) failed to appreciate that there is no obligation upon the appellant to deduct tax at source (TDS) under Section 195(1) of the Act against the amount

EXIMCORP INDIA PRIVATE LIMITED. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

68,246/-debited in the P/L account of the appellant, by wrongfully invoking Section 40(a)(i) of the Income Tax Act, 1961 ("the Act"). 2. FOR THAT, the CIT(A) failed to appreciate that there is no obligation upon the appellant to deduct tax at source (TDS) under Section 195(1) of the Act against the amount

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. ADDL. CIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. JCIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

DCIT, CIRCLE - 7, KOLKATA, KOLKATA vs. VODAFONE ESSAR EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

ACIT, CIRCLE - 7, KOLKATA vs. VODAFONE ESSAR EAST LTD., KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

M/S VODAFONE EAST LIMITED (FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. ACIT, CIR-7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

ACIT, CIRCLE - 7, KOLKATA vs. HUTCHISON TELECOM EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

120 ITR 921, the AO cannot go to the old section 80IA of the Act and accordingly, cannot rely upon the definition of the ‘initial assessment year’ in erstwhile section 80IA of the Act; • Considering the language of the amended act, the legislative intent as can be gathered from the Explanatory Memorandum and settled legal position in Bajaj

TRUE-MAN CONSULTANTS PVT. LTD. ,KOLKATA vs. ITO,WARD-7(2),KOLKATA. , KOLKATA

In the result, the appeal filed by the assessee is partly allowed

Bench: Sri Rajpal Yadav & Dr. Manish Borad

B’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 1158/KOL/2023 Assessment Year: 2012-13 True-Man Consultants Pvt. Ltd.................................Appellant [PAN: AAACT 9862 G] Vs. ITO, Ward-7(2), Kolkata.....………….......................Respondent Appearances: Assessee represented by: Sh. V.N. Dube

ACIT, CIRCLE-1, BURDWAN, BURDWAN vs. M/S. BARDHAMAN DHARMARAJ PAPER MILL PVT. LTD., BURDWAN

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year : 2015-16

4. The learned DR submitted that the share capital and share premium amount credited in the books of account of the assessee company represented cash credit u/s 68 and since the primary onus to establish the identity and the capacity of the concerned share applicants as well as to prove the genuineness of the relevant transactions was not satisfactorily discharged

M/S. BARDHAMAN DHARMARAJ PAPER MILL PVT. LTD.,BURDWAN vs. ACIT, CIRCLE-2, BURDWAN

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year : 2015-16

4. The learned DR submitted that the share capital and share premium amount credited in the books of account of the assessee company represented cash credit u/s 68 and since the primary onus to establish the identity and the capacity of the concerned share applicants as well as to prove the genuineness of the relevant transactions was not satisfactorily discharged

ITO, WARD-5(1), KOLKATA vs. M/S VISHNU DISTRIBUTORS PVT LTD, KOLKATA

In the result, the appeal of the Revenue is devoid of any merit, hence dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 50/Kol/2022 Assessment Year: 2012-2013

B’ Bench, - 225C, A J C Bose Road Kolkata-700 020 Submission of SR DR in ITA 50/Ko1/2022 : Vishnu Distributors Pvt Ltd Your Honours, The assessment was completed u/s 143(3) on 26/3/2015. A total of 39,860 shares of the assessee were shown to subscribed by and allotted to 18 entities - 10 private limited companies and 8 individuals. Each

M/S EVERSAFE SECURITIES PVT. LTD.,KOLKATA vs. I.T.O., WARD-5(3), KOLKATA

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

68 of the Act. The assessee carried the matter in appeal. The first appellate authority passed an ex-parte order and confirmed the order of the AO. 3. Aggrieved, the assessee is in appeal before us. 2 I.T.A. No. 604/Kol/2020 Assessment Year: 2012-13 M/s. Eversafe Securities Pvt. Ltd. 4. The ld. Counsel for the assessee submitted that

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SDR MEGHNATH INVESTMENTS PRIVATE LIMITED, KOLKATA

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

b) Hon'ble Calcutta High Court in the case of Hirak Vyapaar P Ltd in GA No. 1/2023 c) Hon'ble Calcutta High Court in the case of Outcome Buildcom P Ltd in GA No 1/2024 3. After hearing the rival submissions of the Counsels of the respective parties, we have perused the facts of the case as well

VINOD KUMAR GIRI,HOWRAH vs. ITO, WARD 47(1), , KOLKATA

In the result, the appeal stands dismissed and the substantial question of law is answered against the revenue

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyi.T.A. No. 716/Kol/2025 Assessment Year: 2018-2019 Vinod Kumar Giri,…………………….…………..Appellant 158/2/1, Belilious Road, Kadamtala, Howrah-711101, West Bengal [Pan:Adxpg2995E] -Vs.- Income Tax Officer,…………………………......Respondent Ward-47(1), Kolkata, 3, Government Place (West), Kolkata-700001 Appearances By: Shri Vikash Surana, A.R., Appeared On Behalf Of The Assessee Shri S.B. Chakraborthy, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: July 30, 2025 Date Of Pronouncing The Order: August 11, 2025 O R D E R

68 of the Income Tax Act. 3. Aggrieved by the order of the ld. Assessing Officer, the assessee preferred an appeal before the ld. CIT(Appeals), wherein the appeal of the assessee has been dismissed, as inspite of providing sufficient opportunity, the assessee did not file any response. 4. Being aggrieved and not being satisfied with the order